UNIVERSITY AMERICAN COLLEGE SKOPJEold.uacs.edu.mk/Research/userfiles/files/BOOK OF... · 2015. 12....

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UNIVERSITY AMERICAN COLLEGE SKOPJE

Skopje, 2011

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Editors‐in‐chief

Marjan Petreski, PhD

Kokan Grcev, PhD

Technical assistant

Dobrila Dejanoska

Layout

Kokan Grcev, PhD

Print

BoroGrafika‐Skopje

CIP - Каталогизација во публикација Национална и универзитетска библиотека "Св. Климент Охридски", Скопје 082 Универзитет Aмерикан колеџ Скопје

COLLECTION of abstracts of published papers and papers presented at conferences / [editors-in chief Marjan Petreski, Kokan Grcev]. - Skopje : University American college, 2011. - 54 стр. ; 24 см

ISBN 978-608-4607-06-9 а) Универзитет Американ колеџ (Скопје) - Трудови - Абстраkти - Зборници

COBISS.MK-ID 89409802

Skopje, 2011

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Collection of abstracts

of published papers

and papers presented at conferences

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Introduction

In order to encourage scientific research, the University American College Skopje as of this academic year (2010‐2011) established the practice of publishing abstracts of the published papers and the papers presented at conferences by its faculty. The main objective of this activity is to promote research and to spread information among the faculty about the research areas and interests of the others. In addition, this work is expected to help in building the comparative advantage over other Universities in our country that UACS started to build recently.

Marjan Petreski

Vice‐Dean of Research and Scientific Cooperation

School of Business Economics and Management

University American College Skopje

Skopje, May 2011

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Author(s) Bojadziev M., Blazevski Mojsoska N., Boshnjakovska D., Stefanovska M., Krliu V., Janakievska J. And Saracini V.

Journal of paper appearance

Conference of paper appearance

Fifth Annual International Conference on European Integration

Title of the paper

“Work Place as Motivator – Comparative Study of Employees in Business and Public Administration in Macedonia and neighboring countries”

Abstract One of the main differences between Europe and United States has been the level of economic and cultural integration, the latter being characterized with a higher level of integration. The “social clause” contained in the Treaty of Lisbon underlines that social issues, strengthening common interests and respecting differences must be considered in order to produce economic and social development in EU countries.

In this regard, present paper identifies and examines factors, considerations and aspects from the jobs of white collar employees that contribute to their satisfaction and motivation at the working place in four countries in different stages of their EU membership ‐ Republic of Macedonia, Kosovo (UNMIK), Bulgaria and Turkey.

The exploration of the subjective concept of job satisfaction would be conducted by implementing the Job Diagnostic Survey developed by Hackman and Oldham (1974) among white collar workers in the for profit and non for profit sector.

The results of the study are expected to contribute to the identification of organizational issues related to job satisfaction and motivation of workers in for profit and not for profit sector. Moreover, the availability of these results will facilitate future efforts by behavioral scientist to understand the disparities of effectiveness of job enrichment methods between countries at different stages of their EU integration and economic development. In addition, results from previous studies (Hackman and Oldham, 1974; Kamdron, 2005) will be used as control group.

Keywords job satisfaction, motivation, job diagnostic survey

JEL classification

Author(s) Marjan Bojadziev, Ilijana Petrovska, Nada Sekulovska



Proceeding of the International Conference Skopje, 12‐13 November, 2010

Title of the paper The Challenges Of The Marketing Communication Strategy During The Global Economic Crisis In The Financial Industry

Abstract The marketing communication strategy of the financial services in the last years is permanently changing. The financial services specifics and the

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global trends as globalization; global financial crisis, technology development and the customer diversification are influencing the marketing communication strategy. This paper is researching the challenges of the marketing communications strategy model during the global financial crisis and the influence of different macro environmental factors on the contemporary marketing communication strategy model. For this research will be used a primary research with an online survey regarding the marketing communications of the banks in Macedonia. Taking into consideration the latest world trends in the banks' marketing communications; especially influenced by the last global financial crisis we are comparing the challenges in the marketing communications strategy model in the world and the influences on the Macedonian banking marketing communications strategy.

This model is comparing several specifics of the marketing communications models as the communications approach and the appeal, the communication's budget allocation according to the banks products and usage of different marketing communications activities. As the advertising had the biggest participation in the previous bank's marketing communication strategy, it is the objective of this research to find out the participation of rest of the marketing communications activities as public relations, sales promotions, guerilla marketing, internet marketing and experience marketing in the current bank 's marketing communications' strategy model.

Keywords Marketing communications, global financial cnS1S, public relations, communications appeal, budget allocation, PR, internet and experience marketing.

JEL classification

Author(s) Kristina Bocevska, Marjan Bojadziev



5. Simpozijum ,,Reciklazne Tehnologije i odrzliv Razvoj”, 12‐15 Septembar 2010 god.

Title of the paper

Human Resource Management In A Supportive Role Of Sustainable Development & Waste Management

Abstract Nowadays more over becomes active the subject of Sustainable development as well as waste management. In parallel with that, the waste economy in the companies becomes significant issues, because it affects the costs in overall business. Different governments introduce different Revenue Generating Programs: Could include: an increase in state funds allocated for these purposes solid waste disposal fees, or solid waste facility permit fees. Also, as a significant part related with this subject is the influence of management of human resources. This paper is, theoretically to present the links between the HR management and Sustainable development waste management & economy.

Keywords

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JEL classification

Author(s) Marjan Petreski


The Youth Economists Journal, 8(14), p.149‐165.


Title of the paper Output volatility in Macedonia: A role for the exchange rate?

Abstract The study aims to empirically explore the relationship between exchange‐rate rigidity and output volatility for Macedonia, building on the flaws of the existing, though scarce literature on the topic. Specifically, it carefully constructs the output volatility regression; considers the measure of output volatility; and accounts for the endogeneity bias doubted to be present in the respective literature. Moreover, it utilizes a Hodrick‐Prescott definition of volatility, to avoid persistent series which are obtained by using rolling standard deviations. The empirical investigation covers the period 1998:Q1 ‐ 2009:Q2 and uses a GMM estimator. We find that, in general, a TOT shock opts to increase output volatility, but under a more flexible regime, it starts to affect the output fluctuations negatively, implying a role of a buffer. Quite the contrary, when nominal shocks (monetary and/or fiscal) hit the economy, a more rigid alternative of the exchange rate is preferable.

Keywords exchange‐rate regime, output volatility

JEL classification E58, F41, F43

Author(s) Mojsoska‐Blazevski, N. and Petreski, M.



5th Annual conference – UACS, Skopje, Macedonia, 20. May 2010.

Title of the paper Macedonian export performance and the potential gains from the EU integration

Abstract The objective of this paper is to assess Macedonian export performance as a function of the economic performances of its main trading partners in a panel context. We also let relative prices to play a role in the whole story. In general, results suggest that Macedonian export is highly dependent on foreign demand, in particular on EU demand. Relative prices are insignificant. FTAs are found to increase Macedonian export by half, but no additional gains are approximated from the CEFTA agreement. This is along the lines of the conclusion that EU economy plays a strong role for Macedonia, and hence CEFTA countries, including Macedonia are rapt to trade with the EU in lieu to among themselves. In a separate section, in a qualitative fashion the paper discusses potential benefits for Macedonian trade of the new Lisbon Treaty and the further EU integration in general.

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Keywords Macedonia, export, gravity model, Lisbon Treaty, EU economic integration

JEL classification F13, F15, F41



International Journal of Money and Banking, 3(1), p.69‐99.


The XVth Spring Meeting of Young Economists (SMYE‐2010), University of Luxemburg, Luxembourg, 15‐17. April 2010.

Title of the paper Exchange‐rate regime and output volatility: Empirical investigation with panel data.

Abstract The study aims to explore the relationship between exchange‐rate regimes and output volatility, building on the flaws of the existing, though scarce literature. It discusses the measure of output volatility; explores the endogeneity bias doubted to be present in the literature; tests non‐dynamic vs. dynamic model. The empirical investigation covers the post‐Bretton‐Woods era (1976–2006) and includes 169 countries. It is found that sufficiently large terms‐of‐trade shocks will spur output volatility under fixed, limited‐flexible and flexible exchange‐rate regime as compared with a floating regime, but the marginal effect is estimated to be the most severe under a peg (longer than five years).

Keywords exchange‐rate regime; output volatility.

JEL classification



FIW Working Paper N° 57.


Chicago Workshop on Institutional Analysis, Chicago, Illinois, USA, May 15‐21, 2011.

Title of the paper An Overhaul of a Doctrine: Has Inflation Targeting Opened a New Era in Developing‐country Peggers?

Abstract The aim of this paper is to empirically examine the effect of a regime switch, from exchange‐rate targeting (fixed exchange rate) to inflation targeting, on monetary policy in developing economies, hence adding to evidence on whether inflation targeting along with a managed float provides a better monetary policy compared to exchange‐rate targeting. For this purpose, a group of developing countries that have historically experienced such a switch is analysed. This is done by an augmented interest‐rate rule a‐la Taylor (1993; 2001). Two methodological approaches are used: switching regression and Markov‐switching method. Although both approaches have different drawbacks which compensate, still both lead to the conclusion that inflation targeting represented a real switch in developing countries. The period of inflation targeting was characterized by: a more stable economic environment; by more independent monetary‐policy conduct; and by strict focus on inflation. Estimates suggest that the

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switch to a new monetary regime explains these results.

Keywords inflation targeting, exchange‐rate targeting, monetary regime switch, developing economies

JEL classification F41, E42

Author(s) Petreski, M. and Jovanovic, B.



7th International Student Conference, Izmir University of Economics, Izmir, Turkey, 13‐14. April 2011.

Title of the paper A New Perspective on the Monetary Policy in Macedonia: The New Keynesian model.

Abstract The objective of this paper is to evaluate monetary policy in Macedonia over the period 1997‐2009, using the New Keynesian model. Given that Macedonian central bank follows a strategy of fixed exchange rate, the interest‐rate rule is modified by the inclusion of official reserves to reflect the constraint they impose on the monetary‐policy conduct. The general finding is that, despite the fixed exchange‐rate regime, monetary policy in Macedonia exhibited some independence ‐ it responded to movements in inflation. Moreover, monetary policy was backward‐looking, i.e. responded to past developments in inflation. At the same time, official reserves were crucial determinant of the interest‐rate setting. Another finding is that monetary‐policy conduct significantly differed between the two governors during this period, in the course of the aggressiveness towards inflation, consideration of output fluctuations and the role of reserves. When monetary‐policy responses are simulated over the period of the other governor, findings suggest that monetary policy from the Trpeski’s period results in lower interest rate and higher output. However, Gosev’s policy results in lower inflation and is more stabilizing, i.e. produces smaller fluctuations in both output and inflation.

Keywords New Keynesian model, monetary policy, fixed exchange rate, Macedonia

JEL classification E12, E43, E52



Focus on European Economic Integration, 3(11).


Title of the paper A Markov Switch to Inflation Targeting in Emerging‐market Peggers: with Focus on Czech Republic, Poland and Hungary.

Abstract The objective of the paper is to empirically examine if monetary‐policy conduct has significantly changed with the switch from exchange‐rate targeting to inflation targeting in nine emerging economies, including three European switchers: the Czech Republic, Poland and Hungary. An

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augmented Taylor rule is estimated with a Markov‐switching method for each of the nine switchers over the period from the early 1990s to end‐2009, using monthly data. In general, results suggest that inflation targeting represented a real switch in eight emerging economies. Results suggest that central‐bank reaction to inflation moderated under inflation targeting. The effect of the output gap is found to be statistically significant in only half of the countries and also suggests reaction moderation. The exchange rate does not reveal any significant effect in either regime. In the case of the Czech Republic and Poland, a third intermediate regime is identified, being associated with the economic developments in these two countries prior to establishing a full‐fledged inflation targeting. In Hungary, monetary‐policy conduct can be described by one regime only, which is likely to reflect the combined strategy of targeting both the exchange rate and inflation it followed nearly over the entire investigated period.

Keywords monetary‐regime switch; inflation targeting; CESEE‐3; Markov switching


Author(s) Petreski, M. and Mojsoska, N.


6th Annual International Symposium on Economic Theory, Policy and Applications, Athens, Greece, 25‐28 July 2011.


Title of the paper Real Wages in the Manufacturing Industry in Macedonia: with reference to crisis period.

Abstract In this paper we analyze the determinants of real wages in FYR Macedonia’s manufacturing sector. We emphasize the macroeconomic aspects involved, and use econometric panel data techniques to model the behaviour of real wages for the period 2005:1‐2010:3, using monthly data. The main conclusion is that real manufacturing wages are persistent in recession times and highly influenced by the ‘external’ variables, like the real effective exchange rate and the tariff burden. This in turn suggests that the manufacturing sector in FYR Macedonia is highly dependent on the foreign trade, which comes with doubled intensity in recession times. Hence, for policymaking purposes, the paper suggests that the appreciated currency will negatively reflect onto real manufacturing wage. Furthermore, the paper does not find empirical support for the ‘young industry’ argument, i.e. for protecting industries in times of recession; quite the contrary, it suggests that the removal of import barriers is needed to achieve full price competitiveness.

Keywords real wages, recession, foreign trade, Generalized Method of Moments.

JEL classification E24, C51, J31.



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Chicago Workshop on Institutional Analysis, Chicago, Illinois, USA, May 15‐21, 2011.

Title of the paper An Overhaul of a Doctrine: Has Inflation Targeting Opened a New Era in Developing‐country Peggers?

Abstract The aim of this paper is to empirically examine the effect of regime switch, from exchange‐rate targeting (ERT; fixed exchange rate) to inflation targeting (IT), on monetary policy in developing economies. A group of developing countries that have historically experienced such switch is analysed versus a control group of comparable countries that, in the same period, continued to target the exchange rate. The economic model used is fairly‐classical Taylor rule, augmented with the exchange rate. The period is 1991:1‐2009:12. Two methodological approaches are used: panel switching regression and Markov‐switching method, with special account of switch endogeneity.

Results from the panel switching estimation suggest that IT represented real switch in the investigated countries. Under IT, these countries became more concerned with combating inflation, but their reaction moderated compared to the period before and to the control group, because of the background of a more cautious monetary policy. Still, the price they paid for this is higher level of interest rates. However, this approach could not reveal whether overall volatility in the economy changed with the switch to IT. Moreover, it is argued that although countries have date when they officially switched to IT, this does not necessarily have to be reconciled with the moment of the real switch, i.e. the latter might be obscured. To overcome these potential drawbacks, the Markov‐switching approach is employed, whereby regime switching is an outcome of unobservable random variable. Although both approaches have different drawbacks which compensate, still both lead to the conclusion that IT represented real switch in developing countries and that the period of IT was characterized by more stable economic environment, by strict focus on inflation and, possibly, by consideration of the business‐cycle position.

Keywords inflation targeting, exchange‐rate targeting, monetary regime switch, developing economies


Author(s) Marjan Petreski, Branimir Jovanovic



2010 CES China Conference – China, 19‐20. June 2010.

Title of the paper A New Approach to Analyzing Monetary Policy in China

Abstract Any attempt to model monetary policy in China has to take into account two ‘specifics’ of the Chinese monetary policy: the reliance on several operational instruments, both quantitative (open market operations, discount rate, reserve requirement) and qualitative (selective credit allowances, window guidance etc.), as well as the combined strategy

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pursued by the People’s Bank of China, i.e. the two intermediate targets ‐the exchange rate and the money growth. In this paper we analyze monetary policy in China using a small, three‐equation New Keynesian model, accounting for these issues. Our results suggest that monetary authorities in China consider stabilizing inflation and output gap when making their decisions. Intermediate targets, in particular the growth of the monetary aggregates, appear to be important determinants of the monetary‐policy behaviour, implying that their omission might be a serious drawback of the analysis. We also find that omitting the qualitative instruments can lead to wrong conclusions about the monetary‐policy conduct.

Keywords New Keynesian model, Chinese monetary policy, GMM


Author(s) Dimche Lazarevski



International Conference on Applied Financial Economics; Research and Training Institute of East Aegean (INEAG), National and Kapodistrian University of Athens and Department of Statistics and Actuarial‐Financial Mathematics of University of the Aegean. 30 June ‐ 02 July 2011

Title of the paper Foreign Investors’ Influence Towards Small Stock Exchanges Boom And Bust: Macedonian Stock Exchange Case

Abstract This paper aims to answer the question if and how much the foreign investors influence the boom and bust of small stock exchanges. It examines the impact of the foreign investors’ turnover towards small stock exchange turnover, particularly the Macedonian Stock Exchange. Based on the Macedonian Stock Exchange data for the period of January 2006 to July 2009, I find strong evidence that for a small and open stock exchange such as the Macedonian Stock Exchange, foreign investors substantially contributes to the Stock Exchange boom and bust.

Keywords Stock Exchange, Foreign Investors, Turnover, Linear Regression

JEL classification C35, G01, G12, N24, O16

Author(s) Nikica Mojsoska‐Blazevski


Journal of Political Thought


Title of the paper Investigating Private And Social Returns To Education In Macedonia With Reference To Policy Implications

Abstract Knowledge and ideas are fundamental components of the New Economy and determine the growth of living standard and job creation. Consequently, government policies can boost long‐run economic growth

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through investment in knowledge and, hence, increase and deepen the knowledge base of the economy including research, education, skills and technological innovations. Labour market is the mechanism through which human capital (labour) is allocated to its most productive use and where incentives are set for individual investment in human capital through wage premiums to educated workers (Jurajda 2003). This study aims at examining empirically the private returns to education in Macedonia and to provide investigation of potential positive externalities steaming from more educated population, given that social returns to education are more relevant than the private ones for determining the “optimal” level of public investments in education (McMahon 2004; Kara 2009). For our empirical analysis, we use large statistical sample, for the period 1998‐2002. The econometric model that we use is based on the Mincer earnings function that is theoretically founded in the Human Capital Theory.

Our empirical findings suggest that Macedonian labour market creates considerable incentives for private educational investment. This finding does not provide justification for the recent government policy in Macedonia of expanding the capacity of state universities and increasing the state subsidies to private spending on higher education. Nevertheless, a review of the literature on social benefits (McMahon 2006; Kara 2009) suggests two possible arguments in support of state subsidies to higher education that rest on i) possible non‐market private returns which might be neglected by individuals; ii) higher social than private returns to education, which are yet likely to prevail until certain level of development (for instance, up to universal primary education).

Keywords Returns to education, human capital theory, subsidies to education

JEL classification I21, J08, J24

Author(s) Nikica Mosjoska‐Blazevski



First International Conference on Emerging Research Paradigms in Business and Social Sciences, organized by Middlesex University Dubai (to be held in November, 2011)

Title of the paper Detaxication: The effect of labour costs on employment in Macedonia

Abstract The objective of this paper is to investigate the effect of the tax and social‐contributions’ reforms on employment in Macedonia, through estimating a labour demand function over the period 1998:Q1‐2010:Q3. The paper disaggregates the total tax wedge on income‐tax wedge and social‐contributions wedge, to be able to capture the argument that the main burden on labour in transition economies is stemming out from the social contributions and not from the income taxation, mainly due to the dominance of low‐skilled jobs in those countries. We also control for the introduction of the gross‐wage concept as of 2009, which is argued to have exerted some effect onto reducing the informal economy. We find a significant effect of the social‐contributions reduction on employment in Macedonia ranging from 0.9 to 3.1 percentage points. Contrary to this, the

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effect of the income‐tax wedge is found insignificant. Moreover, the estimates about the gross‐wage concept and the associated measures, lend some evidence that the reform affected the transferring of a part of the informal into formal employment, hence most likely shrinking the grey economy in the country.

Keywords flat tax, social contributions reform, labour demand model

JEL classification Ј23, Ј32

Author(s) Nikica Mojsoska‐Blazevski, Marjan Petreski



Reforms and Economic Development in Transition: Serbia and Western Balkan, Belgrade, May 7, 2011

Title of the paper The Intra‐regional Trade as a Milestone for the New Growth in SEE

Abstract The Great Recession of 2007‐2009 has proved the non‐sustainability of the “growth model” that relied on expansion of domestic demand through rapid credit growth, remittances, and FDI injections, as well as on increased exports mainly due to favorable terms of trade and strong global demand (Bartlett and Monastiriotis, 2010). But, what would be the new and, arguably, the better growth model? According to Sanfey and Zeh (2010), greater openness and expanding trade could be part of the new growth model for South Eastern European economies (SEE). This especially holds for the intra‐regional trade that has been very low so far, with CEFTA‐2006 playing a little role in expanding the intra‐regional trade.

Hence, the objective of this paper is to empirically examine the determinants of bilateral trade of Macedonia, with particular emphasis on the trade with the EU and CEFTA‐2006 countries. The standard Gravity model is used to measure the determinants of the bilateral trade in a panel framework. Results suggest that Macedonian GDP per capita and foreign GDP per capita play significant role in explaining bilateral trade. When Macedonian trade with EU is investigated only, then domestic income has larger magnitude than compared to the entire sample. Importantly, no additional gains have been approximated from FTAs and from CEFTA‐2006, in particular. Potential explanation of this can be the still existent non‐tariff barriers across the SEE countries, in terms of the technical, sanitary and phyto‐sanitary barriers to trade, the time and costs to export and import, improvement of infrastructure related to trade and so on.

Keywords

JEL classification

Author(s) Nikica Mojsoska‐Blazevski, Marjan Petreski


Conference of paper 6th International Conference of the UACS, May 2011

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appearance

Title of the paper Does Cultural Heritage Affect Job Satisfaction: The divide between the EU and transition economies

Abstract

Do the citizens of the Eastern, ex‐communist countries share the same values and beliefs as citizens of the Western countries? What about Macedonians? Whereas economists are certain about the convergence in economic performance and catch‐up effect that Eastern countries experienced in their accession to the EU, there is still a small body of literature on the convergence of culture. In particular, there are two competing theories, the first one stating that economic prosperity brings convergence in cultures, whereas the opposite one argues that traditional values persist despite the economic and political progress (Inglehart and Baker, 2000).

Moreover, while there is a growing body of multi‐disciplinary literature investigating the determinants of job satisfaction, ranging from human resource management, to sociology, psychology, labour economics, etc., the issue of culture and its effect on worker’s well‐being has largely been neglected (Fargher et al, 2008).

In this regard, the aim of this study is twofold: i) to examine the factors influencing worker’s job satisfaction stepping aside the conventional factors (personal background variables, individual labour market characteristics, organisational culture, etc) and introducing the basic cultural values and beliefs; and ii) to investigate the relative importance of culture on job satisfaction in Eastern Europe (that are New Member States) and Western Europe and Macedonia as an accession country. Our empirical investigation is based on the European Values Study 2008, which provide detailed information for 44 countries, including Macedonia, on job satisfaction, socio‐demographic characteristics, as well as citizen’s subjective view on family, religion, work, child‐parent ties, tolerance, etc. We use ordered probit regressions to analyse the significance and size of these characteristics on worker’s job satisfaction.

Keywords job satisfaction, culture, convergence, Macedonia

JEL classification J2, P2, P3

Author(s) Elena Makrevska



International Conference on International Business, CRIISEA, University of Picardie (Amiens, France). 19‐21 May 2011, Thessaloniki, Greece

Title of the paper The New Improved Process of Securitization

Abstract Bursting out the housing price bubble in United Stated of America was the beginning of the financial crisis in the American banking system. Because of the interconnection of the financial markets, the process of globalization and the interdependence of the countries in the world, crisis almost immediately spread through the world causing drastic consequences to the world economies. The most often used reason for international spreading

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out the effects of the crisis is the process of securitization, one of the most important financial innovations in the banking industry.

This paper explains the process of securitization with its complexity of financial transactions between the subjects in the process. The process of securitization brought many advantages for the banks at the beginning. But, as it become more “popular” it grew more complex and opaque, making it increasingly difficult for investors to obtain a clear picture of the risks involved.

The loose regulation, led to less transparency and stability in the financial markets. Credit rating agencies were following the initiative for higher profit and were underestimating the risk. The securitization become fast way for generating profit. The market was not able to regulate itself.

So, it needs to be re‐regulated with several structural changes in the future. The transparency should be improved, followed by appropriate due diligence and of the firms. Evaluation of the risk should not rely only on the credit rating agencies.

The new banking model should reestablish the confidence of the investors. That can be made only by applying high regulation standards regarding capital requirements and leverage ratios.

The bottom line is that the process of securitization will continue to be used in the future, but with improved fundamentals by higher regulation and increased pressure of the competition. The crisis changed the rules, and so the securitization market.

Keywords Securitization, regulation, financial crisis

JEL classification G21; G28

Author(s) Elena Makrevska



Sixth Annual International Conference On European Integration ,, Constructing Europe As A Global Power: From Market To Identity?” University American College Skopje, 19 May 2011, Skopje

Title of the paper Resilience of the Euro

Abstract The European Union (EU) nowadays is facing the most severe debt crisis. While Germany is rebounding very successful from the economic recession Ireland, Greece and Portugal are faced with significant difficulties. The prospect of the single currency is drowning as a result of the debt and default fears that put a question mark over the whole EU.

This paper critically assesses the widely used projections of the EU and appropriateness of different budgetary strategies in order to sustain the fiscal balances and stability of the Euro. This paper suggests that there are three possible solutions for “rescuing” the Euro:

First, EU to continue with the strong enforcement of the rescue scheme. This is a serious step, having in mind that the burden of adjustment of the

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budget deficit will be inherited to future generations. Countries need to achieve higher rates of growth and stability on medium term in order to cover today’s losses.

Second, elimination of the countries which are not in compliance with the Maastricht rules. If the countries stay, they won’t have control over their monetary policies. If they leave Euro zone, that will lead to increase of the interest rates on a higher level than today. Either their citizens will face large declines in their living standards as their currency falls against the Euro or they will be demanding large increase of the wage that will imply high inflation. There are two sides of the solution, and none of them is easy.

Third, exit of Germany from the Euro zone or the division of the Euro zone into two sub‐regions (one with strong currency and the other one with adjustable exchange rate).

All the solutions are in favor of further sustainability of the Euro. But in modern market economies, market powers make the final decision.

Keywords fiscal sustainability, budget deficit, Euro, default, debt crisis

JEL classification F15; E52

Author(s) Tome Nenovski, Elena Makrevska



The International Conference on „Present Issues of Global Economy” – the 8th Edition “OVIDIUS” UNIVERSITY OF CONSTANȚA FACULTY OF ECONOMIC SCIENCES, 16 – 17 April, 2011, Constanca, Romania

Title of the paper Adjustment of the Macedonian Monetary Policy with the European Union Monetary Policy

Abstract Strategic goal of Republic of Macedonia (RM) is membership in EU. That road is apparently long. There are lots of reasons. Among them is the need for adjustment of particular instruments of the macroeconomic policy of RM.

The main instruments of macroeconomic policy in every country are fiscal and monetary policy. For the fiscal policy in RM can be said that in big portion is adjusted to Maastricht criteria. But we can’t say the same for the monetary policy.

Sixteen years in row in RM is implementing monetary strategy of fixed exchange rate. That kind of strategy contributes for sustaining macroeconomic stability. From the other side, rates of economic growth were low or with negative values. External trade deficit have permanently upward trend. Unemployment rate is pretty high.

Those results impose the question about adequacy and sustainability of existing monetary strategy or it should be changed with targeting inflation.

Keywords strategies, exchange rate; synchronization; inflation; Euro

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JEL classification E52




The International Conference on „Present Issues of Global Economy” – the 8th Edition “OVIDIUS” UNIVERSITY OF CONSTANȚA FACULTY OF ECONOMIC SCIENCES, 16 – 17 April, 2011, Constanca, Romania

Title of the paper Macedonian Denar (MKD) Depreciation, Introduction of the New Foreign Exchange Regime or Introduction of the Euro?

Abstract Before the beginning of the world economic crisis, countries from Eastern and Central Europe (CEE) had tremendously high rates of economic growth. Their growth was stimulated mostly with foreign investments and huge amounts of loans that came from the Western countries.

However, as a result of the current economic crisis, global liquidity is sharply decreasing. Access to foreign capital gets more difficult. Inflow of foreign currencies from export of goods and services is being reduced. That caused an abrupt decrease of the inflow of foreign currencies and pressure on the exchange rates of the domestic currency. Countries with fluctuating exchange rate experienced depreciation of their currencies. Countries with fixed exchange rate faced the need of significant reduction in their foreign reserves in order to prevent the depreciation of their currencies.

The second scenario happened in Republic of Macedonia (RM). That raised the question whether the devaluation of the Macedonian denar is needed or new foreign exchange regime should be introduced?

Keywords liquidity, currency, rate; depreciation; Euro


Author(s) Zoran Poposki


Nyhedsvisen: Public Interfaces, Vol. I., no. 1, edited by Christian Ulrik Andersen, Geoff Cox and Jacob Lund, 6‐7. Aarhus: Digital Aesthetics Research Center & Center for Digital Urban Living, Aarhus University, March 2011. ISBN: 87‐91810‐18‐3 / EAN 9788791810183


Public Interfaces Conference and PhD workshop, Centre for Digital Urban Living, Digital Aesthetics Research Center, Department of Aesthetics Studies, Aarhus University, Denmark, 12‐14 January 2011

Title of the paper Reclaiming The Urban Landscape By Art And Activism

Abstract Drawing on the engagement with public space of artists as diverse as Braco Dimitrijevic, Mirjam Struppek and Oliver Ressler, as well as the author’s own artistic practice, this paper explores the transformation of urban space in the post‐socialist cities of Eastern Europe, and former Yugoslavia in particular, focusing on examples of creative reuse, artistic conversion and social re‐writing of the urban landscape in the face of massive economic,

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political and social changes.

Keywords Public space, urban studies, architecture, art

JEL classification




Urban Conflicts Conference, Queen’s University Belfast, UK (19‐21 May 2011)

Title of the paper The Right To The City

Abstract Drawing on insights from major theorists of public space, this paper will explore the ethno‐national divisions in the city of Skopje, Macedonia. As a site of intersection of numerous ethnicities, religions and cultures, Skopje is a deeply divided city along ethnic and religious lines. These divisions even manifest themselves in physical terms, with the predominantly ethnic Macedonian and Christian Orthodox population located in one part of the city, and the ethnic Albanian and Muslim in another, divided by a river that runs through the center of the city and serving as a visible border between the two communities. This gap has even widened in the wake of the 2001 inter‐ethnic conflict in Macedonia.

Keywords public space, borders, divided cities, urban segregation, Skopje, Macedonia

JEL classification



Book of Proceedings from the 5th International Interdisciplinary Symposium Encounters of Cultures, Vol. I., edited by Ljiljana Subotic and Ivana Zivancevic‐Sekerus, 437‐442. Novi Sad: Faculty of Philosophy, University of Novi Sad, 2010. ISBN 978‐86‐6065‐040‐7


5th International Interdisciplinary Symposium Encounters of Cultures, Novi Sad: Faculty of Philosophy, University of Novi Sad

Title of the paper Encounters On The Border

Abstract Borders delineate living space: they define the known, the ordered world –cosmos, beyond which lies the unknown, chaos. At the same time, they are the markers of difference, helping define the cultural identity of one group vis‐à‐vis outsiders. Since they are a place where differences meet/confront each other, borders produce conflicts.

However, borders are not just an area of separation of two entities. They can also serve as a meeting point, as a zone of encounter. They connect as well as separate; they are thresholds that lead to the experiencing of the other. Drawing on poststructuralist feminist theory and contemporary art, this paper will explore the contradictory nature of borders, and at the same time, it will attempt to demonstrate the necessity to go beyond these old dichotomies, and find (construct) a third place, a space of no constraints.

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Keywords borders, identity, difference, cultural encounter

JEL classification




Cultural Space and Identity in a Post‐Socialist Context, Academy of Theatre, Radio, Film and Television, University of Ljubljana, Slovenia, 8‐10 September 2010

Title of the paper Reclaiming The City

Abstract In his seminal work, The Production of Space, Henri Lefebvre makes a distinction between representational space (appropriated, lived space, space‐in‐use), spatial practices (everyday activities of reclaiming and populating space, determining its segments, and territorialization of needs and desires within that space), and representations of space (planned, controlled, ordered space) “passively experienced” by its users. Urban spaces often start as representations of space (a square, a park are materialized projections of the spatial visions of urban planners, scientists and social engineers), but through its use people appropriate it, socially produce it into representational space (i.e. symbolic spaces directly experienced through images and symbols). Spatial practices, concerned with the production and reproduction of material life, rely on representations of space and representational spaces to provide them with the spatial concepts and symbols/images necessary for spatial practices to operate.

Keywords Public space, spatial practices, urban studies, architecture, art

JEL classification

Author(s) Ana Tomovska


Journal of Peace Education, 2010, 7 (2) pp. 121‐138


Title of the paper Contact as a Tool for Peace Education? Reconsidering the Contact Hypothesis from the Children's Perspectives

Abstract The contact hypothesis has arguably been the leading theoretical paradigm for educational interventions in divided societies. However most of the studies with children have been quantitative, focusing on contact outcomes and failing to take account of children’s views. Therefore this paper presents the findings of a qualitative study of 10–11‐year‐old Protestant children from two schools in Northern Ireland. The findings reveal children’s competency in engaging with exploration and explanation of broader societal factors, as well as the contact situation events. Therefore, this paper argues that broader context and children’s

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perspectives should be considered in any contact situation so that the quality of contact can be improved and planned contact interventions can lead to positive change.

Keywords contact hypothesis; children; Bronfenbrenner; divided societies; qualitative methodology

JEL classification Not applicable



Conference of paper appearanc

World Council of Comparative Education Studies Conference in Istanbul, World Council of Comparative Education Studies, Istanbul, 14‐18 June 2010

Title of the paper Children's Identity and Peace Education Efforts in Contested Spaces in Northern Ireland and the Republic of Macedonia

Abstract A number of interventions aimed at improving the intergroup relations in conflict affected societies have been implemented and studied. However the views and experiences of 10‐11 year old children have rarely been taken in perspective.

Therefore, by using qualitative data this paper will present the perspectives of 10‐11 year old children from conflict affected areas in Northern Ireland and Republic of Macedonia. By drawing upon Bronfennbrenner's ecological theory and Bourdieu's notion of habitus the interconnectedness of various societal factors and systems to children's habitualised ways of thinking about their own and the identity of the other group will be illustrated. The paper also accentuates that children are active creative thinkers engaged in creating their own dynamic ethnic identity and pictures of their own and the other ethnic group. Children's ethnic identity is based on information from different sources, defined in relation to their experiences with the other ethnic groups and expressed differently in different situations. As a result successful educational interventions should engage the children in subtle processes of identity exploration by focusing on issues relevant to the children leading to gradual change, in an atmosphere perceived as safe and positive by the children.

Keywords contact hypothesis; children; Bronfenbrenner; Bourdieu; divided societies;qualitative methodology


Author(s) Ana Tomovska‐Misoska


Internationally published book, Publisher: Verlag Dr. Muller. Year: 2010.


Title of the paper Children, Social Context and the Contact Hypothesis: Comparative Ethnographic Case Studies of 10‐11 year old Children in Northern Ireland

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and the Republic of Macedonia

Abstract Using education for promotion of tolerance and good interethnic relations is very important in conflict affected societies, faced with issues of ethnic and national identity, prejudice and division, such as Northern Ireland and the Republic of Macedonia. Therefore, this book provides insight into the ways of promoting better intergroup relations among children using inter‐group contact. Furthermore, it offers a fresh look at inter‐group contact by using qualitative methodology in researching children and combining the theoretical underpinnings of the contact hypothesis with Bronfenbrenner's ecological theory and Bourdieu's notion of habitus. In doing so the book shows that contact does not happen in isolation and highlights the importance of the wider sets of contexts within which children and contact programmes are located and their connection with children’s habitualized ways of thinking and behaving.

This book can serve as a valuable source of information for academics and professionals working in the field of peace education, intercultural education and on programmes aimed at improving inter‐group relations by providing new theoretical perspective on the contact hypothesis.

Keywords children, contact hypothesis, Bourdieu, Bronfenbenner, Northern Ireland, Republic of Macedonia.




Article in International Edited Book, P. Calogiannakis, l.G. Karras and C.C. Wolhuter (eds) Education in South Eastern Europe, Year: 2011


Title of the paper Improving Intergroup Relations through Education in Republic of Macedonia: Lessons from 10‐11 year old Children

Abstract Education can serve as a tool for promotion of better intergroup relations in conflict affected societies such as Republic of Macedonia. Therefore this paper provides one possibility for implementing changes within the education system that can contribute to improvement of the inter‐ethnic relations. By drawing upon Bronfenbrenner’s bioecological system theory and 10‐11 year old children's experiences the paper shows the interconnectedness of different parts of the system and provides ideas for changes on different levels of the educational system. The paper suggests changes in line with the critical multiculturalism paradigm and more importantly in line with the children's everyday experiences.

Keywords children, contact hypothesis, ecological system theory, inter‐ethnic relations.


Author(s) Elena Bundaleska

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Journal of Entrepreneurship and Innovation, Ruse, Bulgaria


Competitive Advantage of the Region, RUSE Scientific Conference, Bulgaria Organized by: Ruse University, 29‐30 October, 2010

Title of the paper Employee Motivation – A Guide For Entrepreneurs: Managing People

Abstract The success of a good entrepreneur does not depend only on his/her innovativeness, education, specialized knowledge, talent, boldness, but also very much on his/her abilities to manage people. The aim of this article is to suggest practical recommendations for entrepreneurs on how to develop or improve their people management skills. The recommendations are not all‐inclusive. They are just a starting point. Each entrepreneur should develop from there, based on personal experience.

Keywords Entrepreneur, Management Skills, Motivation, Delegating, Instructing

JEL classification

Author(s) Igor Velickovski


Applied Economics, First published on: 15 December 2010 (iFirst), forthcoming issue, impact factor: 1.538


MAER‐Net Colloquium, Hendrix College, Conway, USA, October 1‐2, 2010

Title of the paper Constraints on Exchange Rate Flexibility in Transition Economies: A Meta‐Regression Analysis of Exchange Rate Pass‐Through

Abstract This article uses Meta‐Regression Analysis (MRA) to investigate exchangerate pass‐through to domestic prices, highlighting differences between transition and developed economies. A total of 23 studies yielded 575 coefficients measuring exchange rate pass‐through to import prices and consumer prices for 23 developed and 12 transition economies. The MRA results confirm the finding of many particular analyses that exchange rate pass‐through is less than complete. In addition, exchange rate pass‐through is higher to import prices than to consumer prices; and exchange rate pass‐through is higher in the long run than in the short run.

Regarding transition and developed economies, MRA suggests that there is no statistically significant difference in exchange rate pass‐through to import prices. Yet, exchange rate pass‐through to consumer prices is significantly and substantially higher in transition than in developed economies. This finding is consistent with the caution of many monetary authorities in transition economies regarding exchange rate flexibility.

Keywords meta‐regression analysis, exchange rate pass‐through, import prices, consumer prices, monetary policy

JEL classification E58, F41, P51

Author(s) Marija Todorova

Journal of paper

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appearance


Languages at War: Policies and Practices of Language Contacts In Conflict, University of Reading and Imperial War Museum London, 7‐9 April 2011

Title of the paper The role of interpreters in conflict mediation

Abstract Throughout history interpreters have played a key role in situations of violent conflict, especially between different cultures. They are important in the process of communication between military forces and the local population, processing of data or investigating war prisoners. Moreover, interpreters are an important factor in conflict resolution, in their capacity as facilitators of peace negotiations, conferences and agreements.

This research stems from my personal experience working as an interpreter for UNHCR first in Macedonia and then in Prishtina, Kosovo during and immediately after the Kosovo crises. With my doctoral research I will attempt to prove, through interviews with interpreters and users of interpreting services, that interpreters have an active role in the process of conflict mediation resembling that of mediators. Accordingly, they need specific skills, knowledge and experience, in order to fulfill this role successfully. This will be done using the case study of the Kosovo and Macedonia. In Kosovo the peace negotiations between the Serbian and Kosovo teams were facilitated by the international community represented by Martti Ahtisaari. In Macedonia, EU representative Francois Leotard and USA representative James Perdue, together with official and unofficial leaders from the country signed the Ohrid Framework Agreement, putting an end to the violent conflict between the Macedonian and Albanian communities.

Keywords Interpreters, conflict mediation, Macedonia, Kosovo

JEL classification




First International Conference on English Studies English Language and Anglophone Literatures Today (ELALT), Department of English, Faculty of Philosophy, University of Novi Sad, 19 March 2011

Title of the paper (Un)Translatability of Mythology In Literature

Abstract In literature many of the names and events can be traced in some form to mythology. English mythology draws its roots predominantly from Norse and Celtic mythology, and like the conglomerate society which it represents, is one which has an entirely idiosyncratic nature of its own. Macedonian contemporary literature encloses evidence of great myths and to a large extent is determined by the myths that are typical for the Balkan region, including the Slavic mythology.

All these alone create many challenges for literary translators. Further confusion has been added through translations of the names of mythical creatures, adding to the murky waters which surround mythical elements.

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As illustration I will compare and discuss solutions offered in Macedonian translations of English authors, especially Tolkien’s works, and English translations of Macedonian authors, concentrating on Slavko Janevski’s and Vlada Uroshevic’s novels.

Finally, the paper should bring deeper insight into best translation strategies/practices when it comes to translating fantasy literature and mythological creatures.

Keywords mythology, translation, mythological creatures, Tolkien, Uroshevikj

JEL classification




From Teaching to Learning, Current Trends in ELT, South‐East European University, Tetovo, 9‐ 11 April, 2010

Title of the paper Learning to talk is learning to translate

Abstract The use of translation has been a fundamental part of language teaching since the very beginning. Indeed, it must be the oldest language‐teaching tool of all. In his essay “Language and The Human Spirit”, Jim Cummins (2003) observes that “there is an inseparable linkage between the conceptions of language and human identity that we infuse in our classroom instruction.” Duff (1989: 7) summarizes succinctly: “Translation develops three qualities essential to all language learning: flexibility, accuracy, and clarity. It trains the learner to search (flexibility) for the most appropriate words (accuracy) to convey what is meant (clarity).” Recently we have seen the use of translation in learning a foreign language is much maligned by language teachers. However, translation is widely used in learners’ foreign language learning process. It appears that learners often use translation as a learning strategy to comprehend, remember, and produce a foreign language. Revisiting the pros and cons of using translation (more precisely, the mother tongue) in the teaching and learning of a foreign language, I will try to justifies the use of translation in the English as a Foreign Language classroom and encourages the development of this as a useful fifth language skill. The use of L1, if used properly and judiciously, is a needful, and worthy, pedagogical ally in the teaching, and learning, of English language across all levels.

Relatively little research attention so far seems to have been devoted to a consideration of the use of translation in language learning. Thus, this paper aims to inspire further research of the role of translation in ESL context, and promote cooperation between teachers of language and of translation.

Keywords Translation, ELT, language skills

JEL classification

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International Symposium “Translation and Cultural Mediation”, International Mother Language Day, UNESCO, Paris, 22‐23 February 2010

Title of the paper Globalizing the Local in Today’s Market

Abstract This paper will attempt to demonstrate the effects of globalization on translation and the concept of cultural identity development in the context of “small languages”, taking the example of the Macedonian publishing market and translation practices. Arguing that translation is central to debates about language and cultural identity, and seeing globalization as intrinsically linked to translation, it shows why consideration of the role of translation and translators is a necessary part of safeguarding and promoting linguistic and cultural diversity of cultural production in small languages. As a cultural practice, translation is deeply implicated in relations of domination and dependence, equally capable of maintaining or disrupting them. In developing countries such as Macedonia, translations have played a critical role in enriching indigenous languages and literatures while supporting reading and publishing. However, this leaves domestic works undersubsidized and limits the development of domestic languages, literatures and readerships. Conclusions are drawn about the new role of the translator in small countries which is one of an expert for intercultural communication in an internationalized world.

Keywords small languages, globalization, literary translation, cultural identity

JEL classification



Огледало XII бр. 145, декември 2010, стр. 10


Поетиката на книжевниот превод,Меѓународна средба на книжевни преведувачи, Унија на книжевни преведувачи на Македонија, 23 август 2010 година, Тетово и Лешок

Title of the paper Поетиката на преведувањето сликовници

Abstract Овој текст беше мотивиран од мојот најнов волонтерски ангажман како преведувач за Меѓународната дигитална библиотека за деца (http://en.childrenslibrary.org). Во рамките на овој проект досега имам преведено десетина сликовници. Сликовниците беа напишани во оригинал на англиски јазик, од автори и илустратори од повеќе различни земји: Бери Луис од САД, Ханс Вилхелм по потекло од Германија, Андреа Петрлик Хусеиновиќ по потекло од Хрватска, Џанаки Суријарачи од Шри Ланка. Иако многу различни по својата содржина, моето искуство со преводот на овие сликовници ме наведе да размислувам за сличностите, за предизвиците и специфичните карактеристики на преведувањето на овој посебен тип на литературата за деца.

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Преведувањето сликовници не се заснова само на напишаниот јазик/текст. Поетиката во сликовниците има два дополнителни аспекти:

Аудитивниот или акустичниот – сликовниците најчесто се читаат на глас,

Визуелниот – составен дел на литературата во сликовниците покрај текстот е и илустрацијата.

Значи, читателот на сликовниците е истовремено и гледач и слушател.

Keywords Сликовници, превод, поетика, аудио‐визуелен превод

JEL classification

Author(s) Bogoljub Jankoski


Publisher: VDM Verlag


Title of the paper "Trends and Challenges of the Contemporary Central Banking ‐ A Case Study for the National Bank of the Republic of Macedonia"

Abstract The issue of the main challenges of the contemporary central banking during the past two or three decades has triggered numerous debates and discussions throughout the world, attracting the attention of both the practitioners (central bankers) and the academic circles. The most important challenge for the central banks is certainly the efficient management and governance. Independence, responsibility and transparency are the main postulates on which the efficient central bank management and governance are based. The significance and the importance of the central banks' independence are reflected in the fact that it is the necessary precondition for accomplishing the legally determined objectives, tasks, and functions of central banks. In order to determine the level of central banks' independence and to examine the basic relations between the independence and the main macroeconomic indicators, it is necessary to predetermine independence criteria. Independence criteria are the basis for construction of the main analytical set of instruments for measuring central bank independence. The numerous empirical studies which examined the relation between the central bank independence and the macroeconomic performances indicate that the central bank independence is in negative correlation with inflation and with fiscal (budget) deficits. They have not identified positive correlation between the independence and the increase in the gross domestic product. Performed measurements of the legal independence of the NBRM by using a larger number of indexes indicate a rather high level of legal independence of the National Bank of the Republic of Macedonia. Operational efficiency of central banks is defined as accomplishment of best results in its functioning and pursuing its main objective ‐ price stability at lowest cost, i.e. by using smallest amount of resources. Operational efficiency could be measured by using indices which are

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specially designed for that purpose. Central banks have an extremely important task in the forthcoming period: to implement successfully the 10 core Basel principles for systemically important payment systems; to enable the conduct of efficient internal audit based on internationally accepted standards and practices; to enable pro‐active approach for the research function, which implies forecasting and projecting economic and monetary variables and factors; to conduct strategic management and planning; to manage human resources effectively, etc. The analysis of the arguments, pro and contra, for accepting the inflation targeting strategy, leads to the conclusion that the inflation targeting strategy is really a challenge for the NBRM in the forthcoming period. Its successful implementation implies realization of numerous macroeconomic and institutional assumptions, as well as increase in the NBRM's capacity for analyzing and forecasting the developments of the most important macroeconomic and monetary variables. NBRM regularly and carefully monitors and analyzes the experiences of other countries which participated or still participate in the Exchange Rate Mechanism ‐ ERM 2. In this respect, the arguments pro and against entering of the Republic of Macedonia in ERM 2 are analyzed, having in mind the concrete economic conditions and circumstances in the Republic of Macedonia.

Keywords efficient central bank management; independence, transparency and responsibility of the central banks; operational efficiency; independence measurement indices; operational efficiency measurement indices; monetary strategies; independence and operational efficiency of the NBRM; exchange rate mechanism ‐ ERM 2.

JEL classification

Author(s) Sapuric Zoran


UNESCO, CHAIR IN BIOTTHICS International Conference on Bioethics Education: Contents, Method Trends, Book of Abstracts


Name of the conference : UNESCO, CHAIR IN BIOTTHICS International Conference on Bioethics Education: Contents, Method Trends, UNESCO, University of Haifa Israel, Zefat Academic College, Israel, The International Center for Health, Law and Ethics, 02‐05.2010 Zefat, Israel

Title of the paper Environmental Ethics Education And Quality Of The Environment

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Abstract

The quality of the environment in modern society has large importance. The quality of the environment is essential element of human health and total quality of human life. Environmental ethics gradually but permanently contributes for changes of dominant human opinion about own surroundings. Those produce stronger activities toward protection and improvement the environment and new ways in the environmental management. All these activities are based on the moral values have deep ethics roots.

Modern environmental policies and environmental legal regulations are based on ethics values. Environmental ethics studies the moral values and the links among the human beings and the nature and the whole environment. Ethical elements are very important in contemporary environmental thought and practice. The practical objective of the environmental ethics and bioethics as a very important part of the environmental ethics is to provide environmental policies and environmental regulation with the moral pillars. The contemporary environmental ethics is facing various dilemmas, such as in case of the relationships among production bio diesel and the necessity of the agriculture space for production of food; in case of genetic modify food etc. For successful solution of huge global environmental problems we need stronger promotion of environmental ethical and bioethical values throw the effective environmental ethical education and in frame of this biotechnical education. Environmental ethics and bioethics education of education will be strong pillars for more effective activities for the protection the nature and the environment, producing the social changes in the relations between the human beings, society and the nature and the whole environment.

In The Republic of Macedonia environmental elements have become a part of environmental policies since beginning the twenty first century, but there is no any progress in the developing the thought about relationship among ethics and environment. Also the debate about these issues is just on the beginning. That’s why we need to promote and involve environmental education.

Keywords Environment, ethics, bioethics, education, policy, legal regulation

JEL classification



SEE Review, Volume five, Number Two


Title of the paper Contemporary Challenges Of The Concept For Sustainable Development

Abstract

The development of the concept for sustainable development is one of the main topics of the modern world. This concept gets into every sphere of the human existence. The sustainable development is an open concept which outlines the needs for changes of the economic and social development which have to be related to the needs for protection and

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advancement of the environment. The unsustainable usage of natural resources resulted in global threat to the environment, and according to many evidences by different world scientists, even in a threat to the human survival in general. Therefore the awareness that urgent measures need to be undertaken is increasing constantly, which means a more intensive implementation of this concept at a global level. But, global activities mean measures and activities at a national, regional and local level as well.

The successful implementation of the concept of sustainable development means series of activities towards the development of new technologies oriented towards the more sustainable and ecologically cleaner production, energy efficiency, and a greater energy production from renewable sources, as well as a scientific, economic and social progress from which the global society will benefit. This also implies reduction of poverty and balance of huge disproportions in the development, as well as intensive caretaking for the needs of future generations. This modern concept is one of the most serious challenges the humanity is facing with nowadays.

Keywords sustainable development, concept, economic development, social development




Europe After Lisbon Treaty, University American College Skopje, FifthAnnual International Conference on European Integration, may 2010

Title of the paper The Lisbon Treaty And Environment

Abstract

The impact of the Lisbon Treaty on the further development of the policy and the law in field of the environment, sustainable development and renewable energy will be huge. Consequences from the transboundary pollution damage produce rising the necessity of the European common measures for the protection and improvement the environment and more efficient implementation the concept of sustainable development, as one of the core objectives of the European common activities. The European Union, as a world leadership in the environmental sphere, with the Lisbon Treaty takes over the stronger responsibility for the global environmental protection.

By the European Union Treaty environmental policy must be integrated into the economics, social, energy, agriculture, transport and other Community policies. After the entered into force the Lisbon Treaty,y the links between the sphere of the environment and economy sphere and other mentioned spheres will be much stronger.

Since 1973, EU` environmental policy has developed spectacularly. The Treaty of 1957 did not contain any provisions on the environment. Single European Act defines the protection of the environment. Maastricht Treaty defines the environment as one of the objectives of Union activity. Treaty was amended by the Treaty of Amsterdam and Treaty of Nice. Those treaties continuous the strengthened the European Union activities in the

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environment and sustainable development. Lisbon Treaty expands the common acting in field on the environment and more coherent energy policy.

Keywords Lisbon Treaty, European Union, environment, environmental policy.

JEL classification



Зборник на трудови од Советување ,, Опасни места на патиштата во Република Македонија ии нивното отстранување


Опасни места на патиштата во Република Македонија ии нивното отстранување, Репубчички совет за безбедност на сообраќајот на патиштата, Скопје јуни 2010

Title of the paper Правна Регулатива Поврзана Со Црните Точки

Abstract

Црните точки се една од најголемите причини за сообраќајните незгоди. Во правната регулатива на Европската унија во последно време се повеќе внимание се посветува на секции, односно делници на патиштата на кои постои висока зачестеност на сообрќајни незгоди на патиштата, (high accidents concentration sections). Овие секции се исто така една голема причина за настанување на сообраќајните незгоди. Оттаму утврдување на прецизна и јасна методологија за определување на црните точки и на означените секции на патиштата, е многу важно за подигнување и одржување на безбедноста на сообраќајот на патиштата. Притоа е неопходно и прецизно правно регулирање на оваа проблематика.

Националната стратегија на Република Македонија за унапредување на безбедноста на сообраќајот на патиштата, 2009‐2014, изготвена од страна на Републичкиот совет за безбедност на сообраќај, а усвоена од Собранието на Република Македонија, во ноември 2008 година, ја препознава важноста на проблематиката на црните точки, како една голема закана за безбедноста на сообраќајот на патиштата и укажува на потребата од интезивирање на активности и мерки за намалување и целосно елиминирање на овие делови од патот. Оттаму се јавува потребата од практичната имплемнтација на оваа Стратегија, што ќе придонесе за унапредување на бебедноста на сообраќајот на патиштата.

Иако на ниво на Европската унија сеуште не постои единствена методологија за единствено определување на поимот на црните точки, Унијата презема интезивни мерки за дополнување на правната регулатива во правец на унифицирано определување на црните точки. Во оваа смисла се преземаат активности за долнување на Директивата за безбедно управување на инфраструктура на патиштата.

Поради големите неповолни ефекти од егзисирање на овие црни точки, Република Македонија треба да преземе итни мерки и активнсоти со цел на справување со неповолнте последици од постоењето на црните точки. Една од почетните активности треба да биде насочена кон изготвување и усвојување на законската регулатива

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која ќе утврди единствена методологија за определување на црните точки и за справување со истите.

Keywords правна регулатива, опасни места, Европска унија, сообраќај.

JEL classification

Author(s) Elena Davitkovska



Sixth Annual International Conference on European Integration: Constructing Europe as a Global Power: From Market to Identity, University American College Skopje, May 19th 2011

Title of the paper European Administrative Space

Abstract The European Administrative Space, Acquis Communitaire, is defined as a set of principles, method of functioning and manner of regulating various specific areas of the administration, which principles and standards ensure the unity of functioning of different administrative systems among different establishments in the EU.

While using the comparative, the legal, and the method of analysis throughout this publication, I will try to present the theoretical and legal basis of EAS’s (non) existence.

The following legal postulates comprise the EAS:

1. National legislation of EU member states which regulate administrative issues in the respective country,

2. Regulations (conventions, directives, programs) adopted by EU bodies, providing unique principles of work and organization which refer to the administration, included in the acquis communitaire and

3. Case law of the European court of human rights which refer to the work of the administration.

While analyzing the above mentioned basis for (non) existence of the EAS, I will try to present the theoretical approaches which refer to it, deferring from absolute denial of EAS’s existence, to its full acceptance and insistence. The basis of the European administrative space represents the consensus between member states concerning basic components of good governance, which especially include rule of law principles, such as: reliability and prudence (legal certainty), openness and transparency, responsibility, efficiency, economy and effectiveness (the well known 3E principles), but also the technical and managerial capacity, organizational capacity and citizen’s participation in the decision – making process.

Keywords EAS, administration, principles, acquis communitaire, transparency, accountability, openness, 3E, recommendations

JEL classification

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Author(s) Elena Davitkovska; Ivan Stefanovski



One Decade After the Ohrid Framework Agreement. Lessons (to be) Learned from the Macedonian Experience. Center for Research and Policy Making, June 24 – 26, 2011

Title of the paper The Future Of Good Governance In Ethnically Mixed Municipalities In Macedonia

Abstract Since the signing of the Ohrid Framework Agreement (OFA) and the beginning of the decentralization process, the preservation of stable inter – ethnic relations has been one of the biggest challenges in Macedonia. In the past ten years, the Macedonian society has been a good example for stable interethnic relations at local level. This paper should give a brief overview concerning the current situation in few ethnically mixed Macedonian municipalities (e.g. Gostivar, Tetovo, Debar, Struga, Gazi Baba, Butel etc.) focusing on the following issues:

‐ The level of cooperation between different ethnicities in the decision making process quantitatively measured through thorough analysis of minutes from municipal councils and municipal council commissions;

‐ The status and level of ethnic diversity of civil servants in the respective municipalities;

‐ Possible minorization through mono‐ethnic policies;

‐ The level of accountability, responsibility and transparency of the respective municipalities.

Conclusions and recommendations for achieving high level of good governance and inter – ethnic cooperation in the future will be produced.

Keywords governance, civil service, inter‐ethnic cooperation, OFA, decision – making process

JEL classification

Author(s) Klisarovska Elena; Kostovski Ninko



Sixth Annual Conference on European Integration. Constructing Europe as a Global Power: From Market to Identity?

Title of the paper

The corporate cross‐cultural management as a source of answers to the cultural identity issues in European Union, Polycentric not Ethnocentric Culture

Abstract Does the EU common decision making and defense policy ultimately lead to a common EU culture? Does the institutional EU reference will induce a personal EU reference? Does no‐physical‐borders policy really lead to “no borders” identity of the EU citizens? Although the examples of consensus pro or contra are many, the disagreements are even more frequent. The

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advocates of the common EU identity are rare, people and scholars in general do believe that the EU will not ultimately prevent them from being French, Germans and so on. However, it is almost impossible to avoid recognizing the presence of the other extreme, the evident “ethnocentrism” which has been seen in the history of EU. Despite the efforts leading to a real Pan‐European identity through steps like The 500 million EU citizens, but no borders, Euro ‐ one currency, EU common policies, it seems that the national heritage, the local languages and the various national identities, will effectively obstruct the way to creation of the hypothetical United States of Europe.

Bearing in mind the Bruter’s “European dual identity” (2005) and the ineffectiveness of the concept of the “embraced differences” envisioned by the current multiculturalism in the EU countries, the need for different approach to the issue is obvious. To fulfill the three objectives of the EU institutional framework as defined by the Treaty of Rome and reemphasized in the Treaty of Maastricht (Gastelaars & de Ruijter, n.d.) will be one of the most challenging, if not the critical issue that will ultimately determine the overall prospects of EU. It is becoming obvious that the objectives of Europe as an important power factor in the world, the community that will serve as model for human rights and democracy and a Society that will not only preserve but to effectively promote the existing national states, will be extremely challenging task. The contemporary corporate management offers concepts that can lead to achievement of common, while not suppressing the individual goals, values and culture. Even more, these individual specifics can be used for creation of developing best practice, the concept of continuous improvement in which everybody learns form the best in particular area of the social life. The aim of this paper is to contribute to the project of future Europe, by presenting an insight into the set of best‐practices of cross‐cultural management in the corporate world. Presenting the European countries as companies and the EU as a state in which they do business, we believe will help understanding the big picture, by looking at the small.

Keywords Key words: EU identity, cross‐cultural management, ethnocentrism, polycentrism, dual cultural identity.

JEL classification F2, F20, F22, F23,

Author(s) Klisarovska Elena



20th BETA Annual Conference, Creativity in Language Teaching – Reaching Out to the New Generation of Learners

Title of the paper Marketing Techniques in the ESL Classroom

Abstract Have you ever asked yourself why students after years of learning English still do not know when to use the Present Simple Tense and when to use the Present Continuous Tense? Or why there is a common misconception among (adult) students that must is stronger than have to? Many of English language teachers ask themselves the same question: How can they not

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know this?

Well, the answer to these questions is manifold but it identifies the same core problem in all – the teaching.

There are techniques used in the business world for creating good marketing campaigns through imprinting lasting images in the viewer’s brain. This presentation shows how these business techniques can be used in the English language classroom for improving the teaching process in terms of creativeness and effectiveness.

Keywords Key words: ELT, marketing, knowledge gap

JEL classification

Author(s) Jovanka Jovanchevska‐Milenkoska



20th Linguistic Days in Prague, 26‐28 May, 2011

Title of the paper Comparative morphosyntactic analysis of temporal adverbials in English and Macedonian – possibilities and problems

Abstract Temporal adverbials have been investigated by major linguists in English, but there is a gap in the Macedonian linguistics concerning this topic. Some basic foundations have already been established by Macedonian linguists, but not as thorough morphologywise/ syntaxwise nor semanticswise. This paper explores the possibilities for positive implications of such research in Macedonian. The research involved investigation of corpus translations from Macedonian into English translated by English native speakers to ascertain the relevance. The comparison was based on several criteria: morphological, syntactic, semantic and positional. The findings of temporal adverbials in Macedonian alternate from clear in morphological view to obscure in positional view, but nevertheless they specify the possibilities or inability for intervention in the specifications of time adverbials in Macedonian linguistics.

Keywords linguistics, time adverbials, implications

JEL classification Linguistics




4th International Online Language Conference (IOLC 2011), September 3 & 4, 2011, International Online Knowledge Service Provider (IOKSP)

Title of the paper

Comparison of Time Adverbials in English and Macedonian in a Corpus of Written Works Translated from Macedonian into English by English Native Speakers

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Abstract This paper deals with time adverbials as lexical temporal sentence elements, and presents the results of a time adverbials research in English and Macedonian. The research treats differences and similarities of time adverbials from morphological, syntactical, and positional point of view. Corpus in this research is mainly literary and fewer academic works translated (fully or partly) from Macedonian into English by English native speakers. Main accent was put on the positional features of time adverbials in both languages.

The problems encountered in the course of the research are discussed in this paper as well, such as: the translator, the type of chosen corpus, the theoretical grammatical background present in both languages, the existence of national corpora, etc.

The paper emphasizes the importance of time adverbials in a linguistic system and aims to help: language teachers and learners to use time adverbials correctly without the influence of the mother tongue; Macedonian translators to be able to formally identify and place semantically different English time adverbials in their most preferred positions; and linguists to deepen the knowledge of Macedonian as well as English time adverbials, and further develop the field of lexical temporal markers in the study of linguistics.

Keywords time adverbial, linguistics, position





6th International ELTAM‐IATEFL‐TESOL Conference Empowering teachers for new challenges in ELT , ELTAM (English Language Teachers’ Association of Macedonia), Skopje, Macedonia, on 30th and 31st October 2010

Title of the paper Time adverbials and their interaction with other temporal markers in the sentence

Abstract Languages are able to express time through various grammatical, lexical, and other types of means. This paper explores time adverbials in the English sentence and their interaction with other temporal markers, such as tense, lexical aspect (Aktionsarten), inner lexical temporal meaning of the morphological elements in the sentence as well as their implications, position and scope of the time adverbials in the sentence, etc.

Keywords Temporal markers, time adverbials


Author(s) Stojcevska Biljana, Popov Oliver, Milenkoski Aleksandar


Conference of paper EUROSIM 2010, 7th EUROSIM Congress on Modeling and Simulation,

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appearance EUROSIM, Prague, Czech Republic ‐ September 6‐10, 2010

Title of the paper Iterative System for Simulation of E2E Transport Protocols in Heterogeneous Networks

Abstract The Internet is characterized by the ever‐increasing number of connections, nodes and places of presence, kinds of topologies, transmission media technologies, the yearly growth in user communities by magnitudes, the variety and the potential of innovative applications, combined with the economic, social, cultural and political ramifications. While constantly being measured and evaluated, explored and studied, the Internet is arguably impossible to be used for experimentation and investigations in order to test and validate the modifications of the existing network protocols or the introduction of new ones. Studies are commonly done using laboratory conditions through tests beds or simulation environments. The ns‐2 network simulator is a well‐known open source tool extensively used and extended by the academia, who also needs a standardized set of topologies, traffics, and metrics to validate and verify the results of their efforts. The tcpeval is one of these tools tool designed to provide a standard starting research framework. The goal of the paper is twofold: using ns‐2 and tcpeval as tools for creating a simulation platform enriched with data gathering system and evaluation of the performance of an end‐to‐end transport scheme based on an original TCP modification.

Keywords Simulation, E2E Protocols, Transport Protocols, ns‐2, tcpeval, Heterogeneous Networks

JEL classification

Author(s) Milenkoski Aleksandar, Stojcevska Biljana



International Journal of Distributed and Parallel systems (IJDPS) Vol.1, No.1, September 2010

Title of the paper Loss Differentiation Algorithms Vs. Congestion Control Schemes: Dynamics And Performance

Abstract This paper carefully analyzes the behavior of different congestion control schemes when used in combination with Loss Differentiation Algorithm. Three types of congestion schemes are discussed: delay‐based, bandwidth estimation and AIMD, with one TCP variant representing each congestion scheme. We simulated two network scenarios with diverse link and traffic properties and evaluated the congestion schemes with integrated Loss Differentiation Algorithm in each of them. The integrated Loss Differentiation Algorithm is ideal, i.e. it makes no errors in its judgment. The behavior of the schemes is analyzed from aspect of: the properties of the employed mathematical functions, the effect of presence or absence of additional network load (reverse and background traffic), and the achieved throughput. The results show very diverse scene and pinpoint the importance of the careful and delicate design of the congestion avoidance action when a non‐congestion loss is detected.

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Keywords Loss Differentiation Algorithms, Congestion avoidance, Congestion control scheme

JEL classification

Author(s) Milenkoski Aleksandar, Stojcevska Biljana, Popov Oliver



SIMUTools2011, 4th International ICST Conference on Simulation Tools and Techniques, Institute for Computer Sciences, Social Informatics and Telecommunications Engineering, Barcelona, Spain ‐ March 21‐25 2011

Title of the paper System for Transport Protocol Evaluation with Automatic Calculation of Statistical Accuracy and Distributed and Parallel Execution

Abstract The architecture and the performance of a system for gathering and processing simulation data is in the focus of this paper. The system is based on the ns‐2 network simulator and the tcpeval evaluation tool for TCP and TCP related protocols. The paper promotes the concept of simulation replication as central to achieve statistical accuracy of the simulation results. Inter alia, one of the main system design objectives is the efficient execution of the simulation experiments with the proper number of replications that may be determined either manually or automatically to attain the preset accuracy during the evaluation process. The later assures that in each case of the specific set of simulation runs their number does not exceed the minimal one required by the designated accuracy. Moreover, the use of interprocess and inter‐thread communication provided by Open MPI and OpenMP makes the execution of the system possible over a multiprocessor distributed architecture that eventually reduced the time needed to achieve the desired precision. The results of extensive benchmark tests show significant gains in time while using all metrics native to tcpeval, which clearly indicates the benefits of deploying a platform for simultaneous execution.

Keywords TCP evaluation, distributed execution, statistical accuracy, parallel execution

JEL classification

Author(s) Snezana Hristova



Competitiveness and Economic Development: Challenges, Goals and Means in a Knowledge based Society, Association for Sustainable Education, Research and Science Second Online International Conference, Romania, December 2010

Title of the paper Building A Knowledge‐Based Society: The Case Of Republic Of Macedonia

Abstract When a society becomes knowledge‐based, it faces challenges on a variety of levels. How and why knowledge is produced and shared, where it is produced, how knowledge spillovers affect new knowledge creation and parameters of use, changes in strategic decision making in knowledge‐based

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environments and how public policy can and should adapt all are crucial issues. Today, we are living in a chaotic transition period to a new age defined by global competition, faster flow of information and communication, increasing business complexity, and pervasive globalization. The pace of change has become so rapid that it took a different type of firms to be dominant and marked entirely new era of business. The shift to knowledge as the primary source of value makes the new economy led by those who manage knowledge effectively – who create find, and combine knowledge into new products and services faster than their competitors. Knowledge‐based economy has created a new discipline of economics. Vast quantity of information and knowledge has been concentrated in companies. Nowadays, each company collects and develops knowledge, and represents a learning organization. It is for this reason that a new discipline has been developed – knowledge management. The actualization of the "knowledge factor" as a solution to the general problems of economic growth is a very important and controversial subject of economic policies in many countries.

This paper aims to provide empirical and theoretical analyses of issues relating to creation and use of knowledge in the knowledge‐based economy. First, we provide some theoretical argumentations. Then, we discuss about knowledge policy as a main strategic tool for achieving growth and competitiveness in the European Union. Last, but not the least, we investigate the past and current situation on this matter in the Republic of Macedonia and then the paper ends with some suggestions for improving its future situation.

Keywords Knowledge creation, Economic growth, Management knowledge, Global Competitiveness Index.

JEL classification M20, M29, D8.

Author(s) Snezana Hristova



Oman International Business Conference, College of Commerce& Economics, Sultan Qaboos University, Muscat, Sultanate of Oman, February 2011

Title of the paper An Investigation Into The New Product Life Cycle: Success Or Failure

Abstract Launching new products to market quickly and successfully is a prerequisite for acquiring a competitive advantage. In this paper, the New product development (NPD) process has been discussed in the context of weighing and predicting the success in innovation and development of new products, as well as delivering the appropriate strategy for the product life cycle. The main question of this research paper is what makes a new product successful. It provides a vital insight into the factors that separate success from the failure of the innovated products. Therefore, it reviews the findings of theoretical and empirical work into the success factors of new product development. It is the prime objective of this paper to summarize the most important findings in a compact and structured way. In addition, shortcomings of previous empirical work on NPD success factors will be

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discussed and suggestions for improvement in future empirical NPD studies will be made.

Keywords New product development (NPD), Innovation, Strategy, Success, Failure etc.

JEL classification M1

Author(s) Irena Avirovic



World Bank International Conference, On Poverty and Social Inclusion in the Western Balkans, (Brussels, Belgium, December 14‐15, 2010)

Title of the paper Patterns Of Migration From Macedonia

Abstract This paper focuses on the diversity of migration pattern of the Macedonian and Albanian migrants from Skopje after the independence in 1991. Through a case study of Macedonian and Albanian migration during the transition period until today, it investigates possible differences of their migration patterns and explores whether these two ethnic migrant groups reproduce the patterns of division present within contemporary Macedonian society when abroad.

Keywords Albanians; ethnicity; Macedonians; migration; segregation.

JEL classification

Author(s) Suzana Panova Nikiforova



Fifth Annual International Conference on European Integration "Europe after the Lisbon Treaty" , UACS, 20 May 2010, Skopje

Title of the paper Building The EU’s Identity: A Brand Management Approach

Abstract One of the most accurate topics among the EU integration promoters nowadays is the definition of the EU identity. Communicators from the EU institutions are striving to reach out its citizens and get their support. Politicians has also realized that promoting Europe outside its boundaries and inside among its citizens is a critical issue that needs special management. The problem of communication that does not appropriately reach its target audience causes severe problems in the projections of the communication messages and results with non correspondent EU image. The Lisbon Treaty further strengthened the EU external and internal unique entity and provide basis for solid definition of its identity. This paper deals with the issue of identity in a special and so far almost unexplored way i.e. building the identity by using the brand management approach. It represents a theoretical research of the existing branding techniques and models for building identity and provides an integrating analyses resulting with the authors proposal of an urgent need of using those techniques for building the EU identity. The success of the destination branding has given reliable evidences that such an approach can lead to a successful branding of EU

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starting with the identity building. Once having built the EU identity and treating the EU as a unique brand entity, a valuable ground will be established for the preparation of targeted, successful and well accepted communication strategies of the EU institutions. And those will help the creation of the desirable image of the EU, one being mirror of its internal rich and unique identity.

Keywords EU identity, branding, communication, institutions, image.

JEL classification

Author(s) Anita Angelovska Bežoska; Jane Bogoev; Ana Mitreska and Maja Kadievska Vojnovik


Croatian Economic Survey (Vol. 13; No. 1; April 2011, pp.57‐104).


International Conference on Fiscal Policy in the Crisis and Beyond: Short‐term Impacts and Long‐term Implications, Economic Institute of Zagreb, Croatia,25 November 2010

Title of the paper Investigating The Cyclical Behavior Of Fiscal Policy In The Republic Of Macedonia During The Period Of Transition

Abstract The main aim of this research is to investigate the cyclical behavior of fiscal policy with respect to output gap fluctuations in the Republic of Macedonia during the period 1991‐2009. We use two different fiscal policy measures: a) the cyclically unadjusted primary budget balance and b) the cyclically adjusted primary budget balance as a proxy indicator of the fiscal policy stance. This analysis also aims to explore whether there was a substantial change in the fiscal policy behavior prior to 1996 due to the turbulent initial period of transition and the switch in monetary policy strategy. We additionally control for other factors that also seem to have had a significant impact over the fiscal policy behavior, such as the armed conflict in 2001 and the impact of public debt as a proxy indicator of budget financing constraints. The estimated results with respect to both measures, the cyclically unadjusted and cyclically adjusted budget balance, indicate differences in the fiscal policy behavior prior to and after 1996. More precisely, the results imply that the fiscal policy behavior prior to 1996 was procyclical, whereas afterwards the fiscal policy became countercyclical. These results are robust to different measures of the output gap and different frequency of the data sets.

Keywords fiscal policy, cyclically adjusted balance, output gap, monetary policy change

JEL classification C35, D10, I31,P20

Author(s) Ilijana Petrovska, Marjan Bojadziev, Nada Sekulovska



The Challenges to Economic Theory and Policy in the Aftermath of the Global

Economic Crisis, Economic Faculty Skopje, University “Sts Cyril and

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Methodius” – Skopje, 12‐13 November 2010

Title of the paper The Challenges of the Marketing communication strategy during the GlobalEconomic crisis in the Financial industry

Abstract The marketing communication strategy of the financial services in the last years is permanently changing. The financial services specifics and the global trends as globalization, global financial crisis, technology development and the customer diversification are influencing on the marketing communication strategy. This paper is researching the challenges of the marketing communications strategy model during the global financial crisis and the influence of different macro environmental factors on the contemporary marketing communication strategy model.

For this research used will be a primary research with an online survey regarding the marketing communications of the banks in Macedonia. Taking into consideration the newest world trends in the banks’ marketing communications; especially influenced by the last global financial crisis we are comparing the challenges in the marketing communications strategy model in the world and the influences on the Macedonian banking marketing communications strategy.

This model is comparing several specifics of the marketing communications models as the communications approach and the appeal, the communication’s budget allocation according to the banks products and usage of different marketing communications activities. As the advertising had the biggest participation in the previous bank’s marketing communication strategy, it is the objective of this research to find out the participation of rest of the marketing communications activities as public relations, sales promotions, guerilla marketing, internet marketing and experience marketing in the current bank’s marketing communications’ strategy model.

Keywords marketing communications, global financial crisis, public relations, communications appeal, budget allocation, PR, internet and experience marketing

JEL classification

Author(s) Ilijana Petrovska, Nada Sekulovska



3rd International Research Conference „Modern Management: Problems, Hypotheses, Research”, State University – Higher School Of Economics, Faculty Of Management, Moscow, Russia, 24‐25 November 2010

Title of the paper The importance of Integrated Marketing Communications during financial crises in the Republic of Macedonia

Abstract The purpose of this paper is to implement a research regarding the marketing communications of the financial institutions during the last financial crises in the Republic of Macedonia. The last world financial crises had a big negative impact on the world economy, especially in the financial industry. However, the Republic of Macedonia didn’t suffered big financial

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implications in the financial industry, mainly because the investments in this sector are still underdeveloped and also the current financial actors are not active in the world financial markets. However the financial institutions’ marketing communications is showing changes in the world and in Macedonia, too. With the monitoring of the world banks’ marketing communications, the main conclusion is the change in the communications approach, especially in the message and in using the communications’ channels. We used quantitative online research for this paper, covering all present and active banks with marketing communications in Macedonia. From eighteen banks, only ten had valuable marketing communications in the last year, from which six have been participated in this research. The results are showing that the financial crises has influenced on changes in the message approach, stressing the security and customer orientations, with emotional appeals of the banks’ marketing communications. The channel distribution is not significantly changed as they were mainly using TV as a main media. Regarding the budget allocations main changes are in the product allocation, stressing the deposit products in the last year. Most of the banks had also decreased the marketing communications budget during the last year in 20‐30 percentages comparing with the previous year.

Keywords banks’ marketing communications, financial crises, PR, Direct marketing, budget allocation, deposit and loan products

JEL classification

Author(s) Ilijana Petrovska, Ljupka Naumovska



5th International Conference on European Integration, University American College Skopje, 20 May 2010

Title of the paper Global marketing communication strategies after Lisbon Treaty

Abstract This paper is looking for an answer if the global marketing communication strategies are applicable for the EU market after the Lisbon Treaty, having on mind that the most effective marketing communication appeal for a product may vary within different markets because of culture, social and economic differences. The differences of local markets in terms of needs, demands, competition and local regulations are essential for choosing proper marketing communications with targeted public. The final part of this paper is going to present results from a qualitative survey conducted on the business community in Macedonia, operating internationally with the EU, too. The objective is to detect the link between the Lisbon Treaty after implementation, as output of globalised Europe and developed global marketing communication as an output of fast globalised businesses.

Keywords Lisbon Treaty, global marketing communication, local marketing communication, global, advertising, PR

JEL classification

46

Author(s) Tome Nenovski



International Conference: “Balkans in Europe: Economic integration, Challenges and Solutions”, Institute for Advanced Studies, Orleans, France, 3‐4 February 2011;

Title of the paper “Macedonian Economy – Advantages, Limitations And Prospects”

Abstract The Republic of Macedonia is probably the only country in the world history which has for a very short period experienced a great number of shocks caused by internal and external factors and reasons. Yet, over all this transitional period it has resisted such influences and has shown strong latent power and possibilities that form the base for its future movement along the paths of progressive and sustainable development. In this favor, a multi‐year macroeconomic stability, setting a strong and contemporary institutional framework, the low financial indebtedness, and the relatively good business climate in the country all make good foundation.

The Macedonian economy also showed its endurance in the period when the actual World economic crisis was being manifested from which it appeared to be less affected than most other countries in Europe. That also is a strong base for restructuring the economy in the period after the crisis and getting into the cruel fight for conquering new trade markets.

The advantages that the economy of the Republic of Macedonia acquired in the past period should be effectively, efficiently and rationally used to their maximum in its further developing activity directed towards realizing the challenges of the time after the crisis and towards the requirements of the EU as its final destination. On its way, of course, it should use the opportunities that are at its disposal, but also use the means, competences and skills that are at its hand in order to eliminate and/or reduce a bigger part of the disadvantages that it is currently facing.

The moving of the Republic of Macedonia on the way that leads to its membership in the EU and sharing the economic destiny with this institution won’t be easy at all. There are still a lot of barriers and serious threats. If we eliminate the fact that the World economic crisis will pass, then the biggest threat to the Macedonian economy seriously emerges, that is, the embargo that the Republic of Greece sets for the membership of the Republic of Macedonia in the EU and the NATO if it doesn’t change its constitutional name. That is an extremely serious threat with long‐term consequences in the realization of the challenges that the economy of the RM is encountering.

Keywords Transition; Business Climate; Economic Crisis; Advantages; Limitations; Prospects

JEL classification E6 ‐ Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook


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International Conference: “Present Issues of Global Economy”, “OVIDIUS” University of Constanta, Faculty of Economic Sciences, 16 – 17 April, 2011, Constanta,Romania.

Title of the paper “Adjustment Of The Macedonian Monetary Policy With European Union Monetary Policy”

Abstract Strategic goal of Republic of Macedonia (RM) is membership in EU. That road is apparently long. There are lots of reasons. Among them is the need for adjustment of particular instruments of the macroeconomic policy of RM.

The main instruments of macroeconomic policy in every country are fiscal and monetary policy. For the fiscal policy in RM can be said that in big portion is adjusted to Maastricht criteria. But we can’t say the same for the monetary policy.

Sixteen years in row in RM is implementing monetary strategy of fixed exchange rate. That kind of strategy contributes for sustaining macroeconomic stability. From the other side, rates of economic growth were low or with negative values. External trade deficit have permanently upward trend. Unemployment rate is pretty high.

Those results impose the question about adequacy and sustainability of existing monetary strategy or it should be changed with targeting inflation.

Keywords Strategies, exchange rate; synchronization; inflation; Euro





International Conference: “Present Issues of Global Economy”, “OVIDIUS” University Of Constanța, Faculty Of Economic Sciences, 16 – 17 April, 2011, Constanta, Romania.

Title of the paper “Macedonian Denar Depreciation, Introduction Of The New ForeignExchange Regime Or Introduction Of The Euro?”

Abstract Before the beginning of the world economic crisis, countries from Eastern and Central Europe (CEE) had tremendously high rates of economic growth. Their growth was stimulated mostly with foreign investments and huge amounts of loans that came from the Western countries.

However, as a result of the current economic crisis, global liquidity is sharply decreasing. Access to foreign capital gets more difficult. Inflow of foreign currencies from export of goods and services is being reduced. That caused an abrupt decrease of the inflow of foreign currencies and pressure on the exchange rates of the domestic currency. Countries with fluctuating exchange rate experienced depreciation of their currencies. Countries with fixed exchange rate faced the need of significant reduction in their foreign

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reserves in order to prevent the depreciation of their currencies.

The second scenario happened in Republic of Macedonia (RM). That raised the question whether the devaluation of the Macedonian denar is needed or new foreign exchange regime should be introduced?

Keywords liquidity, currency, rate; depreciation; Euro


Author(s) Tome Nenovski, Ivica Smilkovski; Klime Poposki



International conference: “The Economies of Balkan and Eastern Europe Countries in the changed world”, University of Pitesti, Romania, 5‐8 May 2011

Title of the paper “Remodeling Of The Macedonian Economy”

Abstract In the period following political and economic independence of the Republic of Macedonia, the Macedonian economy went through a period which is followed by numerous internal and external shocks from economic and political nature. Current world economic crisis is the last shock for the Macedonian economy because of its almost complete openness. The crisis was especially present in the economic sector and activity that are export oriented, such as metal and textile industries, a significant part of agriculture, petroleum derivatives, etc.

Experiences from the economic crisis should serve as a basis for changing the current one whit new model for the country's economy in order to catch a connection to the intense changes that are expected to occur in the next period in the global economy. Creating new economic models in Republic of Macedonia has multidimensional direction. Among them are dominant: a. Completion of initiated and undertaken new activities to improving business climate in the country, b. Economic restructuring, c. Increasing of domestic production, d. Harmonizing effects of macroeconomic instruments.

Newly established economic model is expected to result in multiple positive effects that primarily manifested in the increasing number of newly small and medium enterprise, domestic investments, industrial production, GDP, number of new employees and total exports as well as reduction of the trade deficit in maintaining macroeconomic stability in the country.

Achievements of the Republic of Macedonia with the new development model largely will depend on the realization of risks and threats to which it is or will be exposed to on short and medium term, and related to developments in the global economy and irrational dispute with Greece over Macedonia's recognition of its constitutional name.

Keywords: Shocks, Economic crisis, Economic model, Harmonization, Risks.

JEL classification E6 ‐ Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and

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General Outlook

Author(s) Tome Nenovski



International Conference: “From market to identity”, University American College Skopje, May 19. 2011.

Title of the paper “Ricardo`s Effect: From Idea To Implementation”

Abstract In international trade, countries should use their relative comparative advantages. They should specialize in production and export of goods and services that compete with lower relative cost of production to other countries and to exchange those products to other products for which home manufacturing would be more expensive.

That is the theory of David Ricardo, one of the founders of classical political economy. Although it is set back in 1817, today that theory forms the basis for explaining the benefits of international trade, i.e. the incentives and motives of national economies to trade with each other. At its core lies the model of perfect competition. This model is the basis for today's advocacy for free trade within the EU, trade with no tariffs and no other restrictions.

The end result of the Ricardo model of comparative advantage leads to a gradual flattening of prices of products which are traded between economies based on comparative advantages. If there is free trade between foreign countries, it is clear that the products will move from areas with lower prices, to areas with higher prices. The realization of such a theory today is a plan within the EU.

However, the practice opposes these fundamental values of Ricardo’s theory because:

‐ The model of perfect competition, to which EU aspires, practically does not exist today because today in the EU market structures that restrict competition prevail;

‐ The model does not explain how countries that trade with each other will establish a balance in the trading price;

‐ The model does not explain how to overcome the problem of different tastes of consumers in different countries;

‐ The model does not explain how to reduce transport costs as barriers to foreign trade, and so on.

Eliminating such weaknesses will upgrade Ricardo’s theory and make it valid in current economic conditions. That way it could really be effective in realizing the vision of a “Europe without borders”.

Ricardo effect; foreign trade; comparative advantages; prices equilibrium; free trade

JEL classification F1 – Trade

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Author(s) Марко Андонов


Стручно списание “Правник“ во издание на Здружението на правници на РМ, Бр. 214, февруари 2010


Title of the paper Модели На Супервизија На Финансискиот Сектор

Abstract Компаративните светски искуства во поглед на супервизорските модели во финансискиот сектор се различни. Од една страна, постојат размислувања и поддршка за унификација, односно целосно фузирање на регулаторните тела од областа на финансискиот сектор, додека од друга страна се јавува дилемата дали во процесите на обединување на финансиските регулатори е потребно да се изземе централната банка како супервизор на целокупниот банкарски сектор. Во овој контекст, може да се констатира дека околу 60% од државите во светот го имаат прифатено наведениот концепт на супервизија во финансискиот сектор. Веројатно, ова е една од основните причини поради што во изминатиот период и во Република Македонија се наметна прашањето за обединување на финансиската супервизија. Се разбира, во контекст на ова треба да се имаат во предвид и препораките на Европската Комисија во насока на создавање на интегриран супервизорски надзор на финансискиот сектор во Република Македонија. Конечно, причина повеќе за разработка на предметната тема е и финансиската криза од која произлегоа голем број на реперкусии, но и идеи и предлози за подобрување и зајакнување на системите односно моделите на супервизија на целокупниот финансиски сектор.Во рамки на трудот e разгледана и анализирана актуелната состојба со поставеноста на регулаторните органи во финансискиот сектор во Република Македонија, едновремено правејќи компарација со релевантните европски и светски искуства во предметната област. Имајќи го предвид наведеното, повеќе од јасно е дека денес не се поставува прашањето за неопходноста на супервизијата во финансискиот сектор, туку за моделот и квалитетот на истата, што се изразува пред се преку ефективноста и ефикасноста во нејзиното практикување.

Keywords супервизија, финансиски сектор, регулатори

Author(s) Anita Popovska, Marina Topaloska



International Conference on Business and Management organized by the the Socıal Scıences Research Socıety (SoSReS). The conference was held in Izmir, Turkey, 15‐16th of April, 2011;

Title of the paper Globalization Of The It Industry: The Search For Competitiveness Drives The Corporate Offshore Outsourcing In The It Industry

Abstract When it comes to offshore outsourcing, for more than two decades, the corporate philosophy has been to "produce where it is cheapest and sell

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where it fetches the best price" (Bajpai et al. 2004, p.6). However, although the traditional determinants of the location decision for the corporate offshore outsourcing in the Information Technology (IT) industry have not disappeared over time, their influence has decreased. For example, nowadays the market size as one of the most important traditional determinant for investing abroad has lower significance, while others, new determinants became more important. The differences in costs in various locations, quality of the IT infrastructure, business conditions, high‐skilled labour force, the quality of experience and knowledge of the IT companies when investing abroad, the search for continued quality etc., are gaining greater importance. Therefore, the competitiveness and the market growth are more in‐line with the corporate philosophy of the modern IT companies, nowadays. This implies that investors’ motives continuously change and so markets too should seek new modes for attracting foreign investments. In this paper a conceptual framework has been developed using the theoretical underpinnings of Dunning’s Eclectic Paradigm so as to provide an additional understanding among scholars and practitioners about what are the main drivers the corporate offshore outsourcing in the IT industry. The conclusion provides discussion and suggests that the Dunning’s theory offers valuable insights for both academia and practice to develop more comprehensive approach about the offshore outsourcing location decision in the IT industry.

Keywords IT offshore outsourcing, location determinants, IT industry, etc.

JEL classification

Author(s) Adrijan Božinovski, Stanko Tonković, Velimir Išgum, Liljana Božinovska


Automatika


Title of the paper Robot Control Using Anticipatory Brain Potentials

Abstract Recently, Biomedical Engineering showed advances in using brain potentials for control of physical devices, and robots in particular. This paper is focused on controlling robots using anticipatory potentials. An oscillatory expectation process generated in the CNV Flip‐Flop Paradigm is used to trigger a sequence of robot behaviors. Experimental illustration is given in which two robotic arms cooperatively solve the well known problem of Towers of Hanoi.

Keywords EEG‐based control, Brain potentials taxonomy, Anticipatory brain potentials, CNV Flip‐Flop Paradigm, two‐robot solution of Towers of Hanoi puzzle, adaptive interface

JEL classification

Author(s) Adrijan Božinovski

Journal of paper

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appearance


Global Forum: Shaping the Future 2010, The George Washington University, Washington, DC, November 8‐9, 2010

Title of the paper

Brain‐Machine Interface ‐ A 21st Century Dynamic Technology:

Anticipatory Brain Potentials And Robot Control

Abstract Brain‐Machine Interface is a technology that allows people to control devices using only the bioelectrical signals from the brain. The challenge has been around since 1973, and the first experimental proof of the feasibility of the technology was given in 1988. However, the real worldwide interest was shown in the 21st century. Currently, there are research laboratories and companies around the world offering research and products in the area. The technology allows recognizing various states of the human brain through brain signal processing. The applications so far included movement of the cursor, hands‐free typewriter, wheelchair (robot) movement, and robot arm (prosthesis) movement, among others. Here, an investigation is reported, in which Brain‐Machine Interface is used based on anticipatory brain potentials. The device controlled is a robotic arm.

Keywords Brain potentials taxonomy, Brain‐robot interface, Anticipatory potentials, Controlling robotic arm

JEL classification

Author(s) Adrijan Božinovski



IN‐TECH 2011, 01.‐04.09.2011

Title of the paper Linear‐Time Binary Tree Generation Algorithms for Arbitrary Input String Reproduction upon Depth‐First Traversal

Abstract The paper presents algorithms for generation of binary trees that contain characters of an arbitrarily input string, which is then reproduced when the tree is traversed in one of the three depth‐first tree traversal techniques: preorder, inorder, and postorder. Three algorithms are given, each generating a special binary tree that reproduces the arbitrarily input string when traversed in a specific technique.

Keywords binary tree generation, algorithm, arbitrary input string reproduction, binary tree traversal, preorder, inorder, postorder

JEL classification

Author(s) ZivkaMeloska, IlijanaPetrovska, Blagojco Anakiev


Conference of paper International Scientific Conference, Development Trends In Economics

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appearance And Management In Wood Processing And Furniture Manufacturing, Kozina, Slovenia, June 8 – 10, 2011

Title of the paper Current Conditions And Strategies For Export Strategies Of Furniture In The Republic Of Macedonia

Abstract The own development is of a main importance for each country, as one of the main factors for companies’ strategic behavior in the global market. The furniture is a product of the wood modification and the furniture production, having the highest participation in the global trade. From these reasons we are going to analyze the current situation on the furniture market in the Republic of Macedonia, its structure and future trends. Also analyzed will be the regional situation towards the furniture’s import and export trends. On the basis of these analyses we are going to propose main strategies for furniture market growth, improvement, and involvement in the global market.

Keywords furniture market, export, import, growth strategies

JEL classification

Author(s) IlijanaPetrovska, MarjanBojadziev



LCBR European Marketing Conference 2011 in Frankfurt am Main, Germany, July 7‐8, 2011

Title of the paper To Stop Or To Pop With Marketing Communications During Crises, What Model Of Integrated Marketing Communications Is Most Effective During Crises?

Abstract The purpose of this paper is to implement a research regarding the marketing communications of the financial institutions during the last financial crises in the Republic of Macedonia. The Republic of Macedonia didn’t suffered big financial implications in the financial industry, mainly because the investments in this sector are still underdeveloped and also the current financial actors are not active in the world financial markets. However the financial institutions’ marketing communications was showing changes in the world and in Macedonia, too.

For this paper, we are going to use a quantitative online research, covering all present and active banks with marketing communications in the Republic of Macedonia. This research should present what was the influence of the financial crises, if there were any changes in the marketing communications approach, in the selection of media and selection of promotional tools, and also the budget allocation of the banks in Macedonia.

We expect to conclude what model of integrated marketing communications strategies was most effective during financial crises in Macedonia, in order to give guideline for a future turbulent situation.

Keywords Banks’ marketing communications, Integrated Marketing Communications, financial crises, message approach, promotions, media

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and budget allocation.

JEL classification

Author(s) Stevo Pendarovski



Fifth Annual International Conference on European Integration “Europeafter the Lisbon Treaty”, UACS, Skopje. May 2010

Title of the paper Isolation and Multi‐Vector Foreign Policy in Contemporary Europe: the Self‐Imposed Dilemma of a Small Nation?

Abstract For the countries on the continent the EU constitutes the most important foreign ‐ policy context. Non‐military character of the organization and political and economic stability as its soft power are highly attractive for the small entities. Through the institutional integration they are able to avoid marginalization in the international affairs and in the same time to preserve their national identity. Once in small member‐countries are able more easily to exert influence beyond their borders then staying out and performing individually.

There is no dilemma that foreign policy of the Republic of Macedonia should strive for a full‐fledged membership in the EU in order to compensate for its substantial "traditional deficit" of power. However, in the last two years some tendencies in the foreign policies of the country deviate from the traditional patterns of the so‐called double integration agenda (EU, NATO).

By using the comparative method in the article will be analyzed several cases of the states which utilize multi‐vector foreign policy in politics, economy and energy. The ultimate aim of the paper is to expose structural weaknesses of the concept of political neutrality in a globalized world and multi‐vector foreign policy when applied by the countries with the size and capacities as the Republic of Macedonia.

Keywords Keywords: isolation, multi‐vector foreign policy, integration, small states, Europe

JEL classification

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